Tech Layoffs: Over 575 Companies Globally Are Hiring Tech Employees Laid Off Recently, Says Report

More than 575 product companies across the world are hiring for tech talent, according to a report by pre-hire skill assessment provider Xobin. According to a Business Standard report, India stood third in global tech-hiring geographies, with the US and the EU taking the lead.

The BS report said job crunch has prompted firms that could not compete with Big Tech to target tech workers laid off. The Xobin report, which was based on a study of multiple tech firms the world over, was conducted between January 20 and January 29 and incorporates job posts on LinkedIn and Twitter.

The top domains with the highest hiring are engineering and software development (25 per cent), sales (13.4 per cent), marketing (9.45 per cent), human resources (9.09 per cent), customer success (7.47 per cent), finance (6.07 per cent), operations (4.74 per cent), and design (3.41 per cent).

In the region-wise hiring, the US tops the list with 32.9 per cent, followed by EU (9.15 per cent), India (8.43 per cent), UK (8.07 per cent), and APAC (6.79 per cent).

Citing cost cutting due to macroeconomic pressures, tech companies across the world have resorted to layoffs in the past months. The sacking includes letting go of employees in thousands in numbers to eliminating entire teams. According to the latest data from layoffs.fyi, about 332 tech companies have laid off 1,00,746 employees in 2023 till February 10.

The year 2023 has witnessed mass layoffs by companies such as Google, Microsoft, Salesforce and Amazon, among others. Google laid off 6 per cent of its workforce or 12,000 employees, the highest among all companies. Microsoft let go of 10,000 employees, Amazon sacked around 8,000 employees.

Apart from these, Salesforce laid off 8,000 employees, Dell sacked 6,650, IBM about 3,900, SAP nearly 3,000, Zoom around 1,300, and Coinbase about 950 employees, among others.

In the latest tech layoffs, Yahoo layoffs are the newest addition to the global layoffs list. Yahoo has announced to lay off 20 percent of its staff, impacting 1,600 employees in its ad tech business. Employees were notified on Thursday that 12 per cent of the company (1,000 employees) would be laid off before the end of the day. Within the next six months, another 8 percent — or 600 — will lose their jobs. Around half of Yahoo’s ad tech business will be affected by these cuts.

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